Memorandum Offering - LoopNet

Offering Memorandum

1.16 Acres COMMERCIAL AND SELF STORAGE LAND1.16 Acres COMMERCIAL AND SELF STORAGE LANDApproximately located near: 11200 NE 28th St • Vancouver, WA 98682Approximately located near: 11200 NE 28th St • Vancouver, WA 98682

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

COMMERCIAL AND SELF STORAGE LANDVancouver, WAACT ID Z0210356

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COMMERCIAL AND SELF STORAGE LAND

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INVESTMENT

OVERVIEW

OFFERING SUMMARYPrice $400,000

Down Payment 100% / $400,000 Loan Type All Cash

Lot Size (SF) 50,430

Price/SF $7.93

Lot Size (Acres) 1.16 acre(s)Price/Acre $344,828Zoning Community Commercial, CCNumber of Lots 1Price/Lot $400,000Type of Ownership Fee Simple

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EXECUTIVE SUMMARYOFFERING SUMMARY

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OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES *

Pioneer Child Care 3,492

Peacehealth Southwest Med Ctr 2,478

Portland Adventist Medical Ctr 2,420

Ecmc Group Inc 2,255

City of Vancouver 1,401

Clark College 1,210

St Joseph Medical Center 1,100

McDonalds 950

S E H America 710

Walmart 671

Orchards Medical Office 593

Target 577

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 16,468 132,626 241,745

2010 Census Pop 14,572 121,022 219,407

2017 Estimate HH 6,235 50,891 92,058

2010 Census HH 5,509 46,487 83,785

Median HH Income $55,641 $54,467 $57,143

Per Capita Income $24,867 $26,584 $28,032

Average HH Income $65,468 $68,998 $73,330

* # of Employees based on 5 mile radius


PROPERTY SUMMARYOFFERING SUMMARY

THE OFFERING

Property Commercial and Self Storage Land

Price $400,000

Property Address 11200 NE 28th St, Vancouver, WA

Assessors Parcel Number 162648017

Zoning Community Commercial, CC

Lot Size Dimensions Irregular

Utilities Fully Serviced

Ingress/Egress NE 112th Avenue

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SITE DESCRIPTIONLot Size (SF) 50,430Price/SF $7.93Lot Size (Acres) 1.16Price/Acre $344,828Number of Lots 1Type of Ownership Fee Simple


OFFERING SUMMARY

INVESTMENT HIGHLIGHTS

The subject property is located at approximately the intersection of Northeast 112th Avenue and Northeast 28th Street. The site is rectangular in shape and is approximately 1.16 acres. The zoning is community commercial, CC which allows for many potential uses including commercial, retail, self-storage, office and more. There is access to the site along Northeast 112th Avenue. The site is flat.

The site benefits from proximity to major arterials Interstate 205 with more than 25,000 vehicles per day and State Route 500, with more than 50,000 vehicles per day. There are attractive amenities close by including close proximity to major retailers, Safeway, Union-76, Muchas Gracias, other restaurants and local retailers. Additionally, the site is nestled in an area of dense residential rooftops in proximity to Hyde Park, Mission Hills Apartments, The Pointe Apartments and more, making it an ideal site for self storage or commercial development.

Priced below market comparable properties, the sites dense residential surrounding, and ease of access near major highway arterials creates an ideal situation for a developer to purchase an affordable land site to implement their commercial or self-storage development ideas.

Potential Development uses on following pages- Prospective Buyers to conduct their own investigation as to use

INVESTMENT OVERVIEW

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§ 1.16 Acres Zoned Community Commercial, Ideal for Development of Commercial, Retail, Self-storage, Office and More

§ Close Proximity To Highway 205 with 25,000 Vehicles per Day and State Route 500, with 50,000 Vehicles per Day

§ Near Attractive Amenities Including Safeway, Dense Residential, Schools and More

§ Strong Demographics with More than 240,000 People in a 5-mile Radius with Average Household Income of More than $73,000.

§ Clean Phase I on file July 2018

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LOCATION OVERVIEWLOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMECOMMERCIAL AND SELF STORAGE LAND

PRICING AND VALUATION MATRIX

PROPERTY NAME


ZONING USE

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LOCATION OVERVIEW

CLOSE PROXIMITY TO:

11200 NE 28th St, Vancouver, WA 98682

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX



PROPERTY NAME


LOCATION OVERVIEW

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MARKET

COMPARABLES


SALES COMPARABLES MAP

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COMMERCIAL AND SELF STORAGE LAND(SUBJECT)

2.16 Ac Commercial Land

3217 NE 112th Ave

6301 NE 88th St

2625 SE 165th Ave

SE 1st Street

10002 NE 13th Ave

11001 NE Burton Rd

SALES COMPARABLES

ON MARKET COMPARABLES

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2

3

4

5

7

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PROPERTY NAME


SALES COMPARABLES

CommercialStorage

Land

2.16 AcCommercial

Land

3217 NE112th Ave

6301 NE88th St

2625 SE165th Ave

SE 1stStreet

10002 NE13th Ave

11001 NEBurton Rd

$0.00

$1.40

$2.80

$4.20

$5.60

$7.00

$8.40

$9.80

$11.20

$12.60

$14.00

Avg. $9.07

Avg. $11.13

Average Price Per Square Foot

CommercialStorage

Land

2.16 AcCommercial

Land

3217 NE112th Ave

6301 NE88th St

2625 SE165th Ave

SE 1stStreet

10002 NE13th Ave

11001 NEBurton Rd

$0

$60,000

$120,000

$180,000

$240,000

$300,000

$360,000

$420,000

$480,000

$540,000

$600,000

Avg. $394,946

Avg. $484,767

Average Price Per Acre

SALES COMPARABLES

ON MARKET COMPARABLES

SALES COMPS AVG

ON MARKET COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


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SALES COMPARABLES ON MARKET COMPARABLES

Asking Price $400,000

Down Payment $400,000

Down Payment % 100%

Price/SF $7.93

Lot Size (Acres) 1.16 acre(s)

Price/Acre $344,828

COMMERCIAL STORAGE LAND11200 NE 28th St, Vancouver, WA, 98682

ENTITLED: NO | PERMIT READY: YES

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Close of Escrow 12/7/2017

Sales Price $725,000

Zoning GC

Price/SF $7.71

Lot Size (Acres) 2.16

Price/Acre $335,648

NOTESThe comparable property is a similar size parcel in a similar location as the subject property, purchased to develop self-storage land.

2.16 AC COMMERCIAL LAND5201 NE 94th Ave, Vancouver, WA, 98662

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Zoning CC

Price/SF $7.80


Price/Acre $339,623

NOTESThe comparable property is one lot away to the north of the subject property. Both properties are similar in size, location and potential use. The comparable property was purchased for an owner/user.

3217 NE 112TH AVE3217 NE 112th Ave, Vancouver, WA, 98682

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


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NOTESThe comparable property is commercial land that sold for self storage development in Vancouver, WA. Both properties are similar in size, zoning, potential use, and location.

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Sales Price $1,000,000

Zoning GC

Price/SF $12.02


Price/Acre $523,560

6301 NE 88TH ST6301 NE 88th St, Vancouver, WA, 98665

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Zoning GC

Price/SF $8.75


Price/Acre $380,952

NOTESThe comparable property is a similar size commercial zoned property as the subject property with a proposed use of self storage development. Both properties share similar size, location and potential use.

2625 SE 165TH AVE2625 SE 165th Ave, Vancouver, WA, 98683

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On Market

List Price $2,100,000

Zoning IL

Price/SF $9.66


Price/Acre $420,842

NOTESThe comparable property is a slightly larger parcel than the subject property. The property has some similar development potential uses. Both properties are located in Vancouver, WA.

SE 1ST STREETSE 1st Street, Vancouver, WA, 98684

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


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NOTESThe comparable property is a similar size commercial zoned parcel in a similar location as the subject property. The comparable property is priced more than 30% higher per square foot than the subject property.

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On Market

List Price $750,000

Zoning GC

Price/SF $11.71


Price/Acre $510,204

10002 NE 13TH AVE10002 NE 13th Ave, Vancouver, WA, 98686

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On Market

List Price $675,000

Zoning CC

Price/SF $12.01


Price/Acre $523,256

NOTESThe comparable property is very close to the subject property. Both properties are similar size, location, zoning and have the same potential development use(s). The comparable property is priced 50% higher than the subject property.

11001 NE BURTON RD11001 NE Burton Rd, Vancouver, WA, 98682


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MARKET

OVERVIEW

MARKET OVERVIEW

OVERVIEWVANCOUVER, WA

DEMOGRAPHICS

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ECONOMY

METRO HIGHLIGHTS

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau


The Vancouver metro encompasses all of Clark County, Washington,

and is part of the Portland-Vancouver metro. The city itself is 9 miles

from downtown Portland. The local economy is characterized by the

tax environment as the state of Oregon has no sales tax and the

state of Washington levies no individual or corporate income taxes.

This diminishes Vancouver's retail sector, though development of

other types of real estate thrives as Oregon has more rigid

development laws.

PEACEHEALTHThe largest employer in the metro is PeaceHealth Southwest Washington Medical Center, which employs more than 4,400 individuals.

FRED MEYERSuperstore chain Fred Meyer is a large source of employment in the region, providing 1,700 jobs.

PUBLIC SCHOOLSEvergreen Public Schools and Vancouver Public Schools employ roughly 5,000 staff and faculty across Clark County

§ The local economy is largely driven by nearby Portland as many Vancouver residents choose to commute into Portland for employment opportunities.

§ A median household income above the U.S. median has not translated into a homeownership rate greater than the national level. In Clark County, 64 percent of housing units are owner occupied, on par with the rest of the nation.

§ Enrollment at Washington State University Vancouver tops 3,400, providing the metro with a steady supply of renters and a college-educated workforce.

473K2017

POPULATION:

175K2017

HOUSEHOLDS:

37.92017

MEDIAN AGE:

$63,500 2017 MEDIAN

HOUSEHOLD INCOME:

U.S. Median:

37.8U.S. Median:

$56,3009%Growth

2017-2022*:

6.7%Growth

2017-2022*:

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2017 Experian

Created on August 2018

POPULATION 1 Miles 3 Miles 5 Miles§ 2022 Projection

Total Population 17,337 139,188 255,516§ 2017 Estimate

Total Population 16,468 132,626 241,745§ 2010 Census

Total Population 14,572 121,022 219,407§ 2000 Census

Total Population 12,573 102,827 184,009§ Daytime Population

2017 Estimate 12,803 118,953 219,465HOUSEHOLDS 1 Miles 3 Miles 5 Miles§ 2022 Projection

Total Households 6,755 54,790 99,375§ 2017 Estimate

Total Households 6,235 50,891 92,058Average (Mean) Household Size 2.59 2.56 2.58

§ 2010 Census Total Households 5,509 46,487 83,785

§ 2000 Census Total Households 4,460 38,246 69,219

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles§ 2017 Estimate

$250,000 or More 0.72% 1.21% 1.67%$200,000 - $249,999 0.68% 1.21% 1.43%$150,000 - $199,999 2.34% 3.16% 3.71%$125,000 - $149,999 4.88% 4.64% 4.78%$100,000 - $124,999 8.58% 8.55% 9.33%$75,000 - $99,999 14.18% 13.40% 14.17%$50,000 - $74,999 25.16% 22.56% 21.71%$35,000 - $49,999 16.33% 17.25% 15.74%$25,000 - $34,999 9.47% 9.86% 9.72%$15,000 - $24,999 9.27% 10.04% 9.35%Under $15,000 8.41% 8.12% 8.40%

Average Household Income $65,468 $68,998 $73,330Median Household Income $55,641 $54,467 $57,143Per Capita Income $24,867 $26,584 $28,032

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PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS


Created on August 2018

POPULATION PROFILE 1 Miles 3 Miles 5 Miles§ Population by Age

0 to 4 Years 7.63% 6.74% 6.64%5 to 14 Years 13.46% 13.58% 14.02%15 to 17 Years 3.71% 4.00% 4.10%18 to 19 Years 2.01% 2.20% 2.25%20 to 24 Years 7.78% 6.91% 6.44%25 to 29 Years 10.08% 8.31% 7.52%30 to 34 Years 8.81% 7.72% 7.34%35 to 39 Years 7.41% 7.14% 7.17%40 to 49 Years 12.01% 12.29% 12.85%50 to 59 Years 11.70% 12.09% 12.37%60 to 64 Years 5.13% 5.62% 5.62%65 to 69 Years 4.00% 4.59% 4.74%70 to 74 Years 2.72% 3.21% 3.28%75 to 79 Years 1.37% 2.13% 2.20%80 to 84 Years 0.95% 1.49% 1.55%Age 85+ 1.24% 2.00% 1.90%Median Age 32.94 35.36 36.15

POPULATION PROFILE 1 Miles 3 Miles 5 Miles§ Population 25+ by Education Level

2017 Estimate Population Age 25+ 10,773 88,293 160,860Elementary (0-8) 2.10% 2.53% 2.47%Some High School (9-11) 7.26% 6.96% 6.46%High School Graduate (12) 27.37% 29.26% 27.23%Some College (13-15) 32.29% 29.09% 29.11%Associate Degree Only 8.79% 9.99% 10.02%Bachelors Degree Only 14.50% 14.34% 15.81%Graduate Degree 7.19% 6.81% 7.78%

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IncomeIn 2017, the median household income for your selected geography is $55,641, compare this to the US average which is currently $56,286. The median household income for your area has changed by 24.40% since 2000. It is estimated that the median household income in your area will be $61,326 five years from now, which represents a change of 10.22% from the current year. The current year per capita income in your area is $24,867, compare this to the US average, which is $30,982. The current year average household income in your area is $65,468, compare this to the US average which is $81,217.

PopulationIn 2017, the population in your selected geography is 16,468. The population has changed by 30.98% since 2000. It is estimated that the population in your area will be 17,337.00 five years from now, which represents a change of 5.28% from the current year. The current population is 48.89% male and 51.11% female. The median age of the population in your area is 32.94, compare this to the US average which is 37.83. The population density in your area is 5,227.19 people per square mile.

HouseholdsThere are currently 6,235 households in your selected geography. The number of households has changed by 39.80% since 2000. It is estimated that the number of households in your area will be 6,755 five years from now, which represents a change of 8.34% from the current year. The average household size in your area is 2.59 persons.

EmploymentIn 2017, there are 3,088 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 55.59% of employees are employed in white-collar occupations in this geography, and 44.84% are employed in blue-collar occupations. In 2017, unemployment in this area is 6.01%. In 2000, the average time traveled to work was 25.00 minutes.

Race and EthnicityThe current year racial makeup of your selected area is as follows: 78.21% White, 3.11% Black, 1.66% Native American and 5.69% Asian/Pacific Islander. Compare these to US averages which are: 70.42% White, 12.85% Black, 0.19% Native American and 5.53% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 12.57% of the current year population in your selected area. Compare this to the US average of 17.88%.

PROPERTY NAME

MARKETING TEAM


HousingThe median housing value in your area was $200,707 in 2017, compare this to the US average of $193,953. In 2000, there were 2,608 owner occupied housing units in your area and there were 1,853 renter occupied housing units in your area. The median rent at the time was $616.


DEMOGRAPHICS

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MARKETING PLAN

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LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX



PROPERTY NAME


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MARKET OVERVIEW


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www.MarcusMillichap.com

Will Stone

First Vice President InvestmentsDirector, National Land GroupPortland OfficeTel: (503) 200-2025Fax: (503) [email protected]: OR 890400169

Brendan Powell

First Vice President InvestmentsPortland OfficeTel: (503) 200-2047Fax: (503) [email protected]: OR 201002133

Joel Deis

BrokerSeattle OfficeTel: (206) 826-5750Fax: (206) [email protected]: WA 25469

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Memorandum Offering - LoopNet